Trump's ally proposes selling some of the Fed's gold in exchange for 1 million Bitcoins

An ally of President-elect Donald Trump in the U.S. Senate has developed a plan to fill Trump's proposed strategic Bitcoin inventory without increasing the government deficit, selling off some of the Federal Reserve's gold. Republican Senator Cynthia Lummis of Wyoming plans to push a bill when the new Congress takes office next year. The bill requires the United States to purchase 1 million bitcoins, nearly 5% of the outstanding tokens. At current market prices, the acquisition will cost about $90 billion, although the amount required for the acquisition may increase if the bill is passed and investors act before the government buys. (Jinshi)